IDI reported an “unbelievable” increase in profit in the first quarter of 2022, the stock market price “flyed” by 15% in the week despite the fire in the market.
At the end of the first quarter of 2022, IDI reported a record profit of 188 billion dong, 18 times higher than the same period in 2021.
IDI Multinational Development and Investment Joint Stock Company (HoSE: IDI) has just announced its own financial report for the first quarter of 2022 with revenue of VND 1,149 billion, up 53.3% over the same period. The business said that revenue increased due to strong increase in sales and selling prices.
Gross profit margin increased sharply from 10.7% to 24.6%.
The corresponding cost price increased by 29.4%, equivalent to 197.05 billion VND due to the increase in the price of raw fish compared to the same period last year.
Source of IDI .’s Financial Statements
Gross profit increased by 251.11%, equivalent to an increase of 201.6 billion VND due to the Company’s good supply of raw materials and high price of export fish in the market compared to the same period last year.
Financial income increased by 221.5% to 51 billion dong. Besides, other income also increased by 3.52 billion dong, equivalent to 160.5 billion dong over the same period because the Company signed an asset leasing service contract to ensure the efficient use of asset items. of the company.
At the end of the first quarter, the company reported a profit of 188 billion dong, 18 times higher than the same period last year.
As of March 31, 2022, IDI’s total assets reached 6,444 billion, a slight increase of 3.4%, short-term assets were 4,502 billion dong, accounting for 70%, of which inventory was 1,212 billion dong. IDI’s liabilities are 3,505 billion dong, of which short-term debt accounts for 95%.
In 2022, IDI plans to achieve revenue of VND 8,300 billion, up 45% and profit after tax of VND 900 billion, 6.3 times higher than in 2021. This will be the highest business result in the calendar. business history.
IDI’s shareholders’ meeting approved the plan to pay cash dividends at the rate of 15% for 2021 and 30% for 2022.
Recently, the Board of Directors of IDI has decided to build seafood processing factory No. 3 with a designed capacity of 500 tons of raw materials/day.
Mr. Le Thanh Thuan, Chairman of IDI said, the new factory will be built right in 2022 on the available land fund of the Company. Factory No. 3 has a capacity larger than the designed capacity of the 2 factories No. 1 and No. 2 combined (currently 450 tons/day) which is expected to bring about a large position and increase profits for IDI after the factory. New machine in operation.
The price of pangasius jumped to 34,000 VND/kg in the last days of March, about to break the record of 35,000 VND/kg set in 2018.
According to Mr. Le Thanh Thuan, there are businesses that do not have enough raw materials for processing, even though they accept to buy fish at high prices, even large enterprises in the industry. Only businesses with a large farming area linked to, ensuring credibility with farmers, can take the initiative in raw materials at this time. Mr. Thuan predicts that the price of pangasius will reach a new peak of 40,000 VND/kg in the second quarter of this year.
On the stock market, IDI shares stood at 24,900 VND/share (closed April 22). In the past week, the IDI market price was blown 15.02%.
Data from the Vietnam Association of Seafood Exporters and Producers (VASEP) shows that in March, pangasius exports increased by 80% to US$261 million with positive signs of demand in key markets such as the US and China. , EU. Accumulated to the end of March 2022, pangasius export is estimated at 646 million USD, up 88% over the same period in 2021.
VASEP forecasts that seafood exports in April will still have growth momentum in major markets, when trade and trade promotion activities have returned to normal. In which, pangasius still maintains the leading position in growth with a forecast of 80%, followed by shrimp with 20% increase.
at Blogtuan.info – Source: danviet.vn – Read the original article here
